Large-cap stocks keep market afloat amid cautious trade
Stocks returned to the black yesterday, riding on renewed investor interests in large-cap shares.
DSEX, the key index of the Dhaka Stock Exchange, gained 23.96 points or 0.47 percent to close at 5,074.30. The shariah index, DSES, slipped 1.91 points or 0.15 percent to close at 1,195.
“Large-cap companies dominated turnover. Meanwhile, investors remained cautious before Eid vacation, which will start the next week, while some opted for profit booking to re-balance the portfolio before going for a week-long vacation,” IDLC Investments stated.
Turnover, the most important indicator of the market, declined 2.5 percent to Tk 879 crore, compared to the previous day.
Amid heavy sell-offs in power and pharma sectors, financial and food provided massive support and held the market afloat, said Sheltech Brokerage.
The buying spree in the morning pushed the market into a positive zone, which is a strong indication of a bullish sentiment in the market, the stockbroker said.
A total of 1.5 lakh trades were executed with 15.83 crore shares and mutual fund units changing hands on the Dhaka bourse.
Gainers beat losers 137 to 123, as 40 remained unchanged out of 300 issues that traded on the premier bourse.
Of the major sectors, food and allied gained 3.7 percent, but telecoms declined 2.7 percent.
Grameenphone was the most liquid stock of the day with 19.66 lakh shares worth Tk 75 crore changing hands, followed by Titas Gas, MJL Bangladesh and Jamuna Oil.
Popular Life Insurance was the highest gainer of the day, as it posted 9.7 percent gain, while Central Pharmaceuticals was the worst loser, slumping 13.40 percent.
Chittagong Stock Exchange fell yesterday with its selective categories index, CSCX, losing 11.71 points to close at 9,464.
Losers beat gainers 106 to 98, with 19 issues closing unchanged on the port city bourse that traded 1.35 crore shares and mutual fund units with Tk 54 crore in turnover.
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